Binance, a cryptocurrency exchange, has established a new blockchain hub in cryptocurrency-friendly Georgia as part of its ongoing global expansion.
The launch of Binance’s brand-new blockchain center in Georgia was announced on March 26 with the intention of accelerating the uptake of cryptocurrencies in Georgia. Binance refers to the center as a “Web3 outpost,” with the goal of luring talent to Georgia’s blockchain business, advancing industry education, and expanding employment prospects.
The release states that 25 individuals are presently employed by Binance’s Georgia office, which collaborates with the regional public and private sectors to plan hackathons and educational activities. By the end of 2023, when the cryptocurrency company opens its regional base in Georgia, it hopes to add “dozens more employment.”
The opening of Binance’s new regional headquarters in Georgia comes after a number of significant steps in the company’s expansion there.
Earlier this year, Binance collaborated with the Georgian Innovation and Technology Agency (GITA), joined forces with the local cryptocurrency payment processor CityPay, and created the Binance Charity program to fund Web3 education for women.
Vladimir Smerkis, regional director for Binance, claims that Georgia is one of the most inventive nations in the area.
“Georgia is a significant location on our map for Binance. Around 2,000 individuals have attended our three community meetups here so far, according to Smerkis. He continued by saying that Binance sees “great potential and interest” in cryptocurrencies from both the local business community and the crypto community.
Binance CEO Changpeng “CZ” Zhao visited Georgia for the first time in November 2022. During the visit, CZ met with Georgia’s prime minister Irakli Garibashvili and the local business and crypto communities.
Georgia, a former Soviet Union member, has emerged as one of the world’s most crypto-friendly nations, and its administration has aspirations to turn Georgia into a significant global crypto hub. Several Bitcoin (BTC) ATMs are located in Georgia, enabling users to exchange their cryptocurrency for cash and vice versa. In Tbilisi, the capital of Georgia, there are currently more than 100 Bitcoin ATMs, according to statistics from CoinATMRadar.